BEIJING -(Dow Jones)- China Investment Corp., the country's US$200 billion sovereign wealth fund, said Tuesday it will buy additional shares in Morgan Stanley as part of the U.S. bank's US$2.2 billion share offering.
CIC took a 9.9% stake in Morgan Stanley in December 2007, and the latest investment marks another major step in the Chinese fund's efforts to invest overseas.
A statement posted on Morgan Stanley's Web site said it expects CIC and Mitsubishi UFJ Financial Group Inc. (8306.TO) to be among the buyers of the shares.
-Victoria Ruan contributed to this story, Dow Jones Newswires; 8610 6588-5848; victoria.ruan@dowjones.com